Editor’s Note: An earlier version of this post indicated that Live Nation’s earnings call would be on Thursday, July 27. That call was rescheduled for Wednesday, August 9. The post has been updated to reflect this fact.
Industry sources are expecting Live Nation (LYV) to show a significant increase in its share of the secondary ticketing market when it announces second quarter 2017 earnings in early August. Much of that increase came at the expense of eBay (EBAY)-owned StubHub, which also operates in the secondary ticketing market.
Live Nation, which owns Ticketmaster, has aggressively expanded into the secondary marketplace in recent years after obtaining near-monopolistic control of primary ticketing through exclusive contracts with venues throughout the country and world. It operates several exchanges, from NFL-specific “preferred” resale operations to its TicketsNow platform. During today’s earnings call, the behemouth is expected to announce a market share increase greater than 20% year-over-year. StubHub announced a decrease in Gross Ticket Value of 5% for Q2.
A spokesman for TicketNetwork.com indicated that that the privately-held company’s year-over-year gross ticket value was also positive.
“It’s clear that the resale market is continuing to grow, as fans are no longer willing to accept the word “sellout” for an event that they desire to attend,” he said. “But it looks like one corporation’s gain in the marketplace is another’s loss.”
Last Updated on July 28, 2017 by Sean Burns